Seafood Market to increase by USD 107.74 billion from 2021 to 2026; Rising consumer awareness about healthy nutrition boosts the market growth

NEW YORK, Sept. 11, 2023 /PRNewswire/ — The seafood market size is expected to grow by USD 107.74 billion from 2021 to 2026, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 12.54% during the forecast period. Rising consumer awareness about healthy nutrition is notably driving the seafood market. However, factors such as the depletion of sea species may impede market growth. The market is segmented by Distribution Channel (Online and Offline) and Geography (APAC, North America, South America, Europe, and the Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format

Key Segment Analysis

The market share growth of the online segment is significant during the forecast period. There is an increasing shift in consumer shopping preference which is significantly contributing to the growth of this segment. Additionally, the purchasing decisions of several consumers are influenced by online research conducted through websites, blogs, and social media. Furthermore, the increasing Internet penetration and smartphone adoption are boosting online purchases which is fuelling the growth of this segment which in turn will drive the market growth during the forecast period.

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Geographical Market Analysis

APAC accounts for 38% of the market growth during the forecast period. Some of the key markets for the seafood market in APAC are China, India, and Japan. It is expected that there will be a rapid growth of the market in APAC when compared to other regions One of the main factors fuelling the market growth in the region is the growing population of young, sophisticated, and affluent people who are looking for high-quality seafood. Hence, such factors are expected to positively impact the market which in turn will drive the market growth in the region during the forecast period.

Company Insights

The seafood market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including: AKER BIOMARINE AS, American Seafoods Co. LLC, Cooke Aquaculture, John Bean Technologies Corp., Kangamiut Seafood A/S, Kyokuyo Co. Ltd., LEE FISHING COMPANY, Leigh Fisheries, Leroy Havfisk AS, Marel Group, Mida Food Distributors Inc., Mowi ASA, Nueva Pescanova SL, Pacific Seafood Group, Phillips Foods Inc., Seattle Fish Co., Thai Union Group PCL, The Middleby Corp., and Trident Seafoods Corp.

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Seafood Market Scope
Report Coverage	Details
Base year	2021
Historic period	2017-2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 12.54%
Market growth 2022-2026	USD 107.74 billion
Market structure	Fragmented
YoY growth 2022-2023 (%)	11.38
Regional analysis	APAC, North America, South America, Europe, and Middle East and Africa
Performing market contribution	APAC at 38%
Key countries	US, Canada, China, India, Japan, and France
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	AKER BIOMARINE AS, American Seafoods Co. LLC, Cooke Aquaculture, John Bean Technologies Corp., Kangamiut Seafood A/S, Kyokuyo Co. Ltd., LEE FISHING COMPANY, Leigh Fisheries, Leroy Havfisk AS, Marel Group, Mida Food Distributors Inc., Mowi ASA, Nueva Pescanova SL, Pacific Seafood Group, Phillips Foods Inc., Seattle Fish Co., Thai Union Group PCL, The Middleby Corp., and Trident Seafoods Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Distribution Channel

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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